Botany and Ormiston Times : Botany and Ormiston Times Thursday March 17 2016

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Botany and Ormiston Times, Thursday, March 17, 2016 — 17
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Eastern Beaches
Dwelling median price
2012 600,000
2013 668,000
2014 762,000
2015 868,000
2016 970,000
Percentage change
2015 to 2016 — +12%
Dwelling numbers sold
2012 185
2013 203
2014 174
2015 165
2016 106
Percentage change
2015 to 2016 — -36%
Median days to sell
2012 32
2013 35
2014 34
2015 33
2016 37
Percentage change
2015 to 2016 — +12%
Auckland Region
Dwelling median price
2007 430,000
2015 675,000
2016 750,000
Percentage change
2015 to 2016 — +11%
Dwelling sales volume
2007 3085
2010 1578
2015 2359
2016 1936
Percentage change
2015 to 2016 — -18%
National sales distribution
Under $400,000
2014 2900
2015 3073
2016 3026
Percentage change
2015 to 2016 — -2%
$400,000-$599,999
2014 1641
2015 1809
2016 1934
Percentage change
2015 to 2016 — +7%
$600,000-$999,000
2014 1169
2015 1439
2016 1656
Percentage change
2015 to 2016 — +15%
$1 million and over
2014 415
2015 577
2016 675
Percentage change
2015 to 2016 — +17%
Regional housing market
The past five years’ Auckland regional housing market at a glance, as at February’s figures.
WHO’S INCLUDED: The Eastern Beaches area includes Beachlands, Botany Downs, Bucklands Beach, Cockle Bay, Dannemora, East
Tamaki Heights, Eastern Beach, Edgewater, Farm Cove, Half Moon Bay, Highland Park, Howick, Lloyd Elsmore Park, Maraetai Beach,
Mellons Bay, Northpark, Pakuranga, Shelly Park, Sunnyhills and Whitford.
Source: Real Estate Institute of New Zealand
Eastern Beaches residential
house sales volumes fell by
more than a third in February
compared with the same time last
year, according to latest Real Estate
Institute of New Zealand (REINZ)
figures.
Dwelling numbers sold dropped
36 per cent to 106 compared with
165 in February last year.
Also the number of days it took
to sell an Eastern Beaches house in
February moved to another high,
up 12 per cent to 37 days compared
with 33 the same time last year.
However the median price
continues on its inexorable march
upwards to $970,000 in February
compared with $868,000 in
February last year.
REINZ chief executive Colleen
Milne says the pull back in sales
volumes in Auckland has continued
in February with prices remaining
firm. However she says the overall
trend for the region continues to be
steady.
Two years ago both Auckland and
Canterbury were experiencing rapid
declines in the levels of inventory
and low numbers of days to sell.
“Now we are seeing the situation
reverse with big falls in the
number of days to sell coming
from the regions while the two
main population centres see some
relaxation in the levels of inventory,
with Auckland’s position easing
from a very low level, and a rise
in the number of days to sell,” she
says. “ This suggests the supply/
demand balance across most of
New Zealand is now favouring
sellers, with
the implication
for strong
price growth
moving
forward.”
Regional
areas within
commuting
distance of
Auckland are
still benefiting
from buyers
looking
for more
affordable housing or rental
property, says Andrea Rush, QV
national spokesperson.
“ Values are up more than five per
cent in the Kaipara, Waikato and
Hauraki Districts over the past three
months,” she says.
QV Homevalue registered valuer
James Wilson says while Auckland
activity levels remain low compared
with the first nine months of 2015,
the ‘wait and see’ approach that
began late last year appears to be
subsiding among investors and
many now appear willing to re-
enter the market.
“Auction campaigns are still
producing lower clearance rates
than that of mid to late 2015,
however post auction negotiations
are proving successful in increasing
numbers, attendance is also up and
clearance rates are rising.”
The apartment market, he
says, continues to strengthen,
in particular modern, recently
completed complexes or ‘off plan’
apartment purchases.
“Construction of new
townhouses on brownfield sites
is becoming increasingly popular
as homeowners seek to stay in
the same locality. This is achieved
through either sub division of a
parent site or the demolition of the
existing dwelling on a site.
“Proximity to the public
transport networks is becoming an
increasingly popular variable in a
purchase decision.”
Harcourts chief executive Chris
Kennedy says Auckland Council’s
decision to revert to its 2013 version
of the Auckland Unitary Plan,
which will provide for just 80,000
new homes by 2040, has not done
Auckland any favours.
“Close to 300,000 new houses are
needed in that time period,” he says.
“ There will be no easing of prices
while there are not enough houses
being built.”
OUR HOMES TODAY
Volumes down but prices still up
Colleen Milne